Value Retention: A pathway to lower emissions
‘Value retention’ is a term that will attract more policy makers after publication today of the accumulated evidence base by the International Resource Panel. Presented at the World Circular Economy Forum in Japan, the publication signals the advantages from creating an economy favouring products and components with lifetimes extended through remanufacturing, refurbishment and reconditioning. In Europe alone, the remanufacturing market is valued at €30 billion with the potential to treble in size by 2030.
The publication is the culmination of many years of study and enquiry and answers the original elegant research question set at the Golisano Institute for Sustainability: which policies are needed to deliver a low carbon economy? The answer, perhaps surprisingly, included better value retention in products - extending the working life of components and products through industrial-scale remanufacturing.
We at Oakdene Hollins welcome this finding, and encourage companies to signal their support for this policy agenda by joining the European Remanufacturing Council. The Council was created with the goal of increasing the value of the remanufacturing market in Europe to €100 billion by 2030, which is now being supported more than ever by new findings and evidence from around the world.